Imitation - Theory and Experimental Evidence

Jose Apesteguia, Steffen Huck and Jörg Oechssler

Experimental from University Library of Munich, Germany

Abstract: We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules. It is more important whom one imitates rather than how. In a laboratory experiment we test the different theories by systematically varying information conditions. We find that the generalized imitation model predicts the differences between treatments well. The data also provide support for imitation on the individual level, both in terms of choice and in terms of perception. But imitation is not unconditional. Rather individuals' propensity to imitate more successful actions is increasing in payoff differences.

Keywords: evolutionary game theory; stochastic stability; imitation; Cournot; experiments (search for similar items in EconPapers)
JEL-codes: C72 D43 L13 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2003-09-10
New Economics Papers: this item is included in nep-gth
Note: Type of Document - pdf; prepared on IBM PC; pages: 42 ; figures: included
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/exp/papers/0309/0309001.pdf (application/pdf)

Related works:
Journal Article: Imitation--theory and experimental evidence (2007)
Working Paper: Imitation - Theory and Experimental Evidence (2005)
Working Paper: Imitation - Theory and Experimental Evidence (2004)
Working Paper: Imitation - Theory and Experimental Evidence (2003)
Working Paper: Imitation - Theory and Experimental Evidence (2003)
Working Paper: Imitation-Theory and Experimental Evidence- (2003)
Working Paper: Imitation - Theory and Experimental Evidence (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpex:0309001

Access Statistics for this paper

More papers in Experimental from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ( this e-mail address is bad, please contact ).